Under one of the many laws that go into effect Thursday, medical marijuana entrepreneurs throughout the state must either open a store or apply for a municipal license. If they miss the deadline, they will have to wait at least a year.

The deadline is the first of many hurdles for medical pot businesses in a new law that takes effect Thursday. House Bill 1284 sets up a licensing and regulation system for Colorado's hundreds of medical marijuana dispensaries, which previously existed in a legal gray area.

In addition to Thursday's deadline to apply for a local license, dispensary owners have until Aug. 1 to apply to the Department of Revenue for a state license.

Pot businesses that miss either deadline will have to wait until July 1, 2011, to apply.

Undoubtedly, many of the 80% of dispensaries that will close their doors in the coming months will be among those with the most creative names. We thought we'd honor the occasion by celebrating some of our favorite medical marijuana dispensary names.

(Note: the dispensaries listed below will not necessarily be closed when the new rules take effect)